A principal debtor in an ex-parte hearing failed to respond to the bank's debt recovery application. The Tribunal held the claim secured by a hypothecated vehicle was valid and allowed the application.
Payment of Rs. 22,62,870.44 with future interest; permission to proceed with sale of hypothecated vehicle; costs; issue of recovery certificate.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL.II AT HYDERABAD DATED THIS THE 27TH DAY OF ]ANUARY, 2026
PRESENT: SH, RAMESHWAR KOTHE, B.COM,, L.LB. (HONS.), M.A. PRESIDING OFFICER
ORiGINAL APPLICATION No: 675 OF 2025
M/S.YES Bank Limited., Office at 1-8-387, 2ND Floor Agravanshi Plaza, HUDA Lane S.P.Road, Secunderabad - 500003. Rep. by its Authorized Signatory.
.....Applicant.
,,
Versus
14r. Nagalla Rakesh, S/o. N Namosiva Rao Aged about 41 Years, Occ: Business R/o. P No.35,3.d Floor, A & tY Residency R No.168, Gopal Nagar, KPHB Colony Hydera bad - 500085.
Also at: - C/o.RSAquaTraders., R S No.47014, Akiveedu(post), Akividu West Godavari District - 534235.
Also at:-
R/o. 10, Mdntirpalem, Nagara m Guntur - 522262.
. .. Defenda nt
Counsel for the Applicant : Mr. lvl. Srinivas Reddy Defendant : Ex- parte
:: q-LD:LL ::
oA.NO.67sl202s
06.09.2024 till the date of realization alongwith costs and in default for sale of hypothecatedvehicle.
representation.
Whether the Applicant Bank is entitled ' for the claim made in the OA against the Defendant and OA hypothecated vehicle?
,I
oA.NO.575/2025
with future interest @9.35olo p.a. simple from the date of application till the date of realization;
ii) the OA claim is secured by way of hypothecation of vehicle described in the schedule annexed to the OA and the applicant bank is entitled to proceed against the same to realise its debt;
iii) the applicant bank is also entifled to proceed against the person and properties of defendants for realization of its dues;
'iv) the applicant bank is entitled for the costs.
B' The Applicant Bank is directed to fire cost Memo within 2 weeks from the date of receipt of this Order,
(RAMESHWAR KOTHE) PRESIDING OFFICER
I
1 issue framed by the court
Whether the Applicant Bank is entitled to the claim made in the OA against the Defendant and recovery of the hypothecated vehicle?
2 provisions across 2 enactments
M/s Yes Bank Limited
SH Rameshwar Koth
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
